Mobile Banking Surge to Continue

The Raddon Financial Group’s Spring 2012 National Consumer Research study, which is based on 1,230 survey responses gathered in February of this year, showed that household mobile banking use has more than tripled in two years from 6% in 2010 to 20% in 2012.

It is projected that mobile banking use is likely to follow the adoption path that online banking has taken since 2001 as consumers gravitate to the anywhere access channel that allows them to better manage their personal financial affairs by checking their monthly account balances, paying bills, transferring funds, or making person-to-person payments, according to Raddon.

The research revealed that beyond the transaction nature of mobile mania, the use of tablet devices is also growing and will be the landscape from which personal financial management programs will be delivered to the technology-oriented consumer that has been bred.